Supporting Small Business
Entrepreneurs participating in the ESFO program are judged
on their business venture’s scientific and technical merit, the
scope of their work, market potential, management, commer-
cialization, potential for economic impact and overall presen-
tation. RCBI generally seeks to support businesses that will
manufacture products in West Virginia and have the potential
to create jobs, but West Virginians seeking to start companies
outside of the manufacturing industry are also welcome to apply.
“The review committee looks for projects that meet the
goals of the grants,” says Jamie Cope, RCBI’s deputy director
and director of innovation and entrepreneurship. “The main
objective of the ESFO program is to create or retain jobs. If
a new product or process doesn’t help enough to create more
jobs, it is unlikely to receive an ESFO award.”
Applying for Support
West Virginia’s own spin on the popular television show
“Shark Tank” is helping sustain small businesses across the
state, thanks to the Robert C. Byrd Institute’s (RCBI) Early
Stage Funding Opportunities (ESFO) program.
Through the program, those aspiring to launch a new busi-
ness or expand an existing business can pitch ideas to a com-
mittee for the opportunity to receive seed funding or support
services. The program aims to empower new ideas by bridging
the gap between concept and prototype and providing support
for design engineering, prototype development, 3-D printing,
quality management, advanced technical training and business
certifications.
“Our early stage funding continues to assist entrepreneurs
throughout the state,” says Charlotte Weber, RCBI director
and CEO. “We’re helping bring creative ideas to life.”
Applications for ESFO are submitted online. When an
application is received, it is reviewed by a committee, and if the
committee believes it could be a viable project, a presentation
is requested. Once three or more viable projects have been
identified, a presentation review session is scheduled. RCBI
currently hosts review sessions every four to six weeks.
“Most successful applicants prepare a presentation,” says
Cope. “Some have even provided rough prototypes or dem-
onstrations. Others have been funded strictly by explaining
their concept verbally.”
The review committee’s RCBI representatives include two
engineers, a quality assurance specialist, the ESFO grant director
and the director of the institute’s TEN50 Business Accelerator.
Leslie Drake, director of the West Virginia U.S. Export
Assistance Center, and Alisha Maddox, chief communications
officer for Charles Ryan Associates, also serve on the review
committee. Cope moderates the presentations and subsequent
question and answer sessions.
“When the presentation is complete, our committee asks
questions,” he says. “Usually, the goal is to determine what
exactly RCBI can do for the company and how much time
and cost is involved in doing that. Once the committee has the
answers to the questions, the applicants leave the room, and
the committee discusses the details of the projects and what
the best path forward may be.”
There is a one-week waiting period between the pitch
session and when participants find out whether they will
receive support. To receive the award, which typically comes
from grant funding through the U.S. Economic Development
Administration and the Claude Worthington Benedum
Foundation, recipients must be willing to match their grant
with 5 percent of their own funds.
“Participants in the program are awarded up to $10,000
in RCBI services. No cash is awarded,” says Cope. “Someone
receiving the maximum award of $10,000 would contribute
$500 of their own money and receive $10,500 in RCBI services.
We have found that awardees with the buy-in of 5 percent are
much more reliable and successful. If the awardee requires
services or materials that are not available at RCBI, contract
options are explored.”
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